Question

I purchased a new (first) home back in September/October 2013. My credit score then was around 790. Since then, my credit has only been inquired once by a bank. Nothing new was opened.

My total utilization is 22%, however I do have one card that is interest free that I put a lot of stuff on for the new house. That one card itself is at 90% utilization and it's still interest free for about another 7 months (had this card since before I bought the house.) It's not being paid off, but I am making more than the minimum payment each month.

Everything else has been the same. No new lines of credit have been opened or anything. Could buying a house and that one card really drop my credit score 100 points? (It's around 680ish now.) Or am I missing something?

All Responses

Looks like you have answered your own question. Based on the information given it looks like your 2 new tradelines + 1 inquiry + a nearly maxed out card have made your score drop. Are you only checking your score here on CK? If so, check out your Credit Report card to see exactly what is huting and helping your score. https://www.creditkarma.com/myfinances/ccu. Also, I've found that CK's new account score swings dramatically downward, and slowly upwards. None of this really matters though, unless you're planning to open a new account in the near future. You score will rebound again with ontime payments, age, and paying down that credit card debt.

Your Credit Scores Should Be Free. And Now They Are.

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